Westpac Business Loan
Westpac’s business loan is ideal if you are the owner of a small business or are an investor in commercial property.
Our business loans range from $20,000 to $500,000, depending on your small business needs.
Westpac’s Business Loan Rates
Westpac is proud to offer you the choice to decide what type of rate will work best for you. So what type of rates do Westpac offer for their small business loans?
Variable rates can be beneficial to small businesses and investors. With a variable rate with Westpac, you are able to make additional payments on your loan. This can help you save money in the long run as you may be able to reduce the amount of interest you pay on the loan.
Variable rates also allow you to choose your interest type (depending on how your business is going). You can choose to have interest only or to have principal and interest.
But sometimes a fixed rate is more desirable because you know what you are paying and how much you have remaining to pay against your business loan.
Fixed rates are also beneficial because they protect against fluctuations in the interest rate. This means that your rate will stay the same, even if the interest rates increase.
Westpac’s Business Loans Features
Westpac offers it’s customers business loans of $50,000 to $100,000. When you decide to take out a business loan with Westpac, it must be secured by a residential, commercial or rural property.
The term of your business loan will depend on the security that is offered against your loan.
- Residential. If you offer a residential property as security against your loan, the loan term can be for up to 25 years
- Commercial or rural. If you offer a commercial or rural property as security against your loan, the loan term can be for up to 15 years
If you find that your situation has changed, the property that is offered as security can be swapped for another property.
Westpac also offers it’s customers redraw, which is available if you have a variable rate business loan. This convenient feature enables you to make extra payments in addition to your usual repayments. You then have the ability to access the additional payments later on if you need them.
This option offers piece of mind and extra security to a customer. At Westpac, our aim is to make you feel financially secure and in control of your business’ finances.
We also allow our customers to manage their loans online. As a customer with a Westpac business loan, you are able to keep track of your balance and as an added feature, when it is time to file your taxes, you are able to export the information on the interest you have paid straight to your company’s accounting software.
Westpac’s Business Loan Fees
At Westpac, we calculate our fees based on each individual customer. The service fees and price of establishing your loan will differ depending on what type of security you decide to use against your loan. For example, the use of a commercial property for security would result in different fees than if a rural property were to be used.
Don’t delay contact us today to get a quote and to find out how a business loan from Westpac can help you make your business more successful.
For more information on Westpac’s business loan or to discuss your on-going business needs, call us on 132 772
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| Personal Loan | Details | Min Interest Rate | Min Comparison Rate | Min Loan Amount | Min Loan Terms | Apply Fee | |
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 ME Bank Personal Loan | A low rate personal loan from ME Bank with no application fee for a limited time. | 13.59% | 13.81% | $5000 | 1 year | $0 |   |
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